Default Loss Mitigation Specialist

Bank of England • Little Rock, AR

2d • Onsite

About The Position

Bank of England Mortgage is seeking a Default/Loss Mitigation Specialist to join their Mortgage Servicing team. This role involves contacting borrowers with missed mortgage payments to understand the reasons for delinquency and assist them with available options to bring their accounts current. These options may include forbearance agreements or other loss mitigation programs compliant with Investor or Agency Guides. The specialist will coordinate the collection of borrower financial information and documents, and recommend appropriate loss mitigation programs to management and/or agencies.

Requirements

• High School Diploma or GED equivalent required
• Proficient skills with MS Office, Excel and Mortgage Industry Loan Servicing Software’s
• Minimum of 3-year work experience in mortgage loan servicing is required.
• Knowledge of Fannie Mae, Freddie Mac, VA, HUD, Ginnie Mae, MERS and investor servicing guidelines and government requirements.
• Knowledge of all Consumer Financial Protection Bureau (CFPB), Federal and State regulatory compliance requirements that apply required. Including by not limited to the “Fair Debt Collection Practices Act (FDCPA).
• Ability to work with minimal supervision and take initiative in pursuing departmental responsibilities.
• Excellent customer service skills required and ability to demonstrate control and flexibility when dealing with internal/external clients and changing work demand.
• Demonstrate effective and strong listening skills, verbal/speaking communication skills with the ability to effectively communicate in writing to principals, executive management, non-management personnel, vendors and customers.
• Must be organized, with acute attention to detail with great accuracy.
• Prioritization skills - ability to recognize and act on changing priorities.
• Must have ability to multi-task and operate in a high-volume, fast-paced environment.
• Ability to maintain quality and high productivity when dealing with customers and changing work demand.
• Proficient skills with MS Office, Excel and Mortgage Industry Loan Servicing Software
• Must be able to perform essential responsibilities with or without reasonable accommodation.

Nice To Haves

• some college preferred
• B.S. Degree desired
• SAGENT- LoanServ and D+H Servicing Director experience preferred
• 1 year work experience with knowledge of Escrow item payables and Escrow Analysis desired
• D+H Servicing Director experience preferred
• Multiple language skills are a plus.

Responsibilities

• Contact borrowers by phone, email, or written correspondence to negotiate bringing mortgage account to a current status or use other loss mitigation method, such as Short Sale, Forbearance, Modification (HAMP), Refinance (HARP) or Deed-in-Lieu.
• Review borrower’s loss mitigation package for completeness of information and documentation.
• Review system generated reports, for escrow payments pending and escrow analysis, to determine whether or not a mid-year analysis needs to be performed.
• Process incoming mail for escrow items and update the system with changes of insurance carriers, insurance premiums, updated flood certification determinations and monitor changes to assure that the loan still meets the Investor or Agency requirements.
• Monitor reports to assure all loans have hazard or flood insurance in place and/or force place insurance as needed.
• Provide support services for customer contact (internal and external) regarding payments, balances, insurance and taxes disbursements, escrow analysis questions, and payoffs.
• Organizational skills with ability to prioritize and manage multiple tasks at the same time.
• Other duties and tasks as assigned by management.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: High school or GED